UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...Economy Geostrategy Global
Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the...Business Economy Geostrategy
Too early to dismiss oil’s role in energy market
Saudi Arabia, the world's second-largest oil producer that produced more than 10 million barrels of crude per day before the...Saudi Arabia, the world's second-largest oil producer, plans to produce 13.5 million barrels by 2027, as well as 23 billion cubic feet of gas by 2030
Despite its national policy to diversify the economy and lessen reliance on fuel, the Kingdom continues to increase its oil and natural gas production
War, inflation threaten world income
The US Federal Reserve chair has said every $10 hike in oil prices would impact growth by 0.1 percentage points...S&P has cut its projection for global growth this year to 3.4 percent, a decline of 0.7 percentage points over its earlier forecast
Nations launched huge stimulus program to prevent their economies from crumbling after the pandemic emerged in 2020
Ukraine war to ‘deeply destabilise’ food supply in Europe, Africa: Macron
“Europe and also Africa will be very deeply destabilised as regards food because of what can’t be planted right now...“Europe and also Africa will be very deeply destabilised as regards food because of what can’t be planted right now in Ukraine,“ Macron told reporters
The French leader added that still more economic punishment would be piled on Russia if it continues its invasion of its neighbour
UAE, Bangladesh to expand cooperation in trade, investment
The UAE-Bangladesh Business Forum discussed ways to enhance cooperation between the two countries in the field of trade and investment,...An MoU was signed between the two to establish a joint UAE-Bangladesh Business Council.
The UAE-Bangladesh Business Forum was held at DP World Pavilion at Expo 2020 today in the presence of ministers.
Sharjah Chamber and Argentina to foster ties between businesses
The Sharjah Chamber of Commerce and Industry (SCCI) and an Argentinian delegation discussed ways to enhance cooperation between the business...Sharjah Chamber and a delegation from Argentina discussed economic, trade and investment relations at a forum.
Abdallah Sultan Al Owais, Chairman of the SCCI highlighted the importance of joint work to advance the existing relations.
Chinese companies threatened with delisting on Wall Street
Five Chinese companies have been ordered to comply with audit requirements by the US Securities and Exchange Commission (SEC) or...In total, some 248 companies are affected, with a market capitalization of about $2.1 trillion, according to an ad hoc committee.
Mainland Chinese and Hong Kong companies are notorious for not submitting their financial statements to US-approved auditors.
UN warns of clashes in Libya as armed groups mass near Tripoli
On Thursday, the US ambassador in Libya, Richard Norland, also expressed fears over an escalation.Tensions have simmered since the parliament swore in a prime minister earlier this month despite interim premier Abdulhamid Dbeibah
Dbeibah has refused to hand over power to Fathi Bashagha, and says he is the country's rightful steward until elections are held
IMF expects to cut global growth forecast due to Ukraine war
The IMF in January cut the global growth forecast for 2022 to 4.4 percent due to the Omicron variant of...Russia’s invasion of Ukraine, and sanctions that include a US ban on Russian oil imports, are spilling over to the global economy
These are causing costs for energy and other key commodities like wheat, fertilizers and metals to surge, the IMF has said
Egypt inflation hits 10 percent as Ukraine impact pushes food prices up
Egypt's inflation rate hit 10 percent in February, official figures showed Thursday, as the country heavily reliant on wheat imports...The country, heavily reliant on wheat imports from Russia and Ukraine, braces for the full impact of their war.
CAPMAS attributed the latest hike to a surge in prices of food especially vegetables, bread and grain.
UAE reaffirms commitment to OPEC+ pact, production adjustments
The United Arab Emirates on Thursday reaffirmed its commitment to OPEC+ alliance agreements, a day after an envoy said it...A surge in prices and supply fears following Russia's invasion of Ukraine have led to calls for the Organization of the Petroleum Exporting Countries to increase output.
The OPEC+ group plans to boost production by just 400,000 barrels a day in April, the same pace as in recent months.
